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CIRCOR International Q1 Adjusted Earnings Rise, Revenue Falls; Issues Q2 Outlook; Updates Full-Year Guidance

05/12/2021 03:07

06:57 AM EDT, 05/12/2021 (MT Newswires) -- CIRCOR International (CIR) reported Q1 adjusted earnings Wednesday of $0.24 per diluted share, up from $0.20 a year ago.

The consensus of four analysts polled by Capital IQ was $0.24.

Net revenue for the quarter ended April 4 was $180.7 million, down from $192.2 million a year ago.

Analysts polled by Capital IQ expected $188.0 million.

Looking ahead, the company expects Q2 full-year 2021 revenue growth in the range of 0% to 2% and adjusted EPS in the range of $0.30 to $0.35.

Circor also updated its full-year revenue growth expectation to a range of 2% to 4%, compared with the previous outlook of 0% to 4%, and adjusted EPS outlook to a range of $2.10 to $2.30, up from the previous forecast of $2.00 to $2.20.

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